There were 4,579 houses (trend) approved for construction in Western Australia in the three months to July 2007, 1.1% (51) less than in the previous three month period. Despite the fall, the rate of decline had slowed significantly from the 5.0% (245) fall in the three months to April 2007 (compared to the previous three months). In contrast, other residential dwelling approvals grew 9.1% (104) to 1,251 in the three months to July 2007 - comprising semi-detached houses, townhouses, and flats, units and apartments.

NUMBER OF DWELLINGS APPROVED, Houses: Trend

The number of house approvals (trend) in Western Australia has fallen for 18 consecutive months, between January 2006 and July 2007, by an average monthly rate of 1.1% (20 houses). The decline has coincided with three interest rate rises by the Reserve Bank of Australia of 0.25% in May (5.75%), August (6.00%) and November (6.25%) 2006 and an increase in new house prices of 10.2% between the March quarter 2006 and the June quarter 2007 in Perth.